Prudential Life Insurance Ghana has launched an innovative product that enables Ghanaians to realize their financial goals and protect their families from the uncertainties of life.
The new PruWealth Plan is a policy with unrivalled benefits in the financial industry. It provides both, investment and protection for a policyholder. The PruWealth Plan can be an investment for: a parent planning for the university education of a child, a couple starting out their lives saving to be home owners or a seasoned professional preparing for retirement.
The policy calculates the amount needed for a policyholder to save today in order to achieve their financial goals in 10 to 15 years. With a minimum cover of GHS 100,000, there is an option to include an inflation protector that can be tailored to everyone’s preferred lump sum pay-out over their term of investment. In addition, the PruWealth Plan guarantees 100% reimbursement of all premiums paid, plus interest, if the policyholder outlives the term of the policy without making a claim, which also includes free insurance cover for an additional five years.
In the unfortunate event of a permanent disability or, worst case, death the PruWealth plan pays the total sum assured upfront, waives all premium payments for the remainder of the policy term and pays the sum assured again on maturity of the policy! Moreover, in the event of death, PruWealth pays 10% of the value of the sum assured annually through the end of the policy term.
The continued payments ensure that education fees for children are funded until they reach the tertiary stage; they facilitate uninterrupted mortgage payments until the home is completely paid for or can protect a retirement plan by providing the funds needed to live worry free. As an example, a 30 year old will pay monthly premiums of roughly GHS 280 over 15 years for a sum assured of GHS100, 000. The PruWealth Plan benefits also protects a spouse or partner, if needed.
Emmanuel Mokobi Aryee, Chief Executive of Prudential Ghana, said: “At Prudential, we are passionate about long term financial planning that is needed to fulfil the life goals of our customers. The PruWealth Plan protects our customers from the uncertainties of life, and will provide for our customer’s dreams and aspirations to be achieved.
Jane Mingle, Chief Strategy Officer of Prudential Life Ghana, said: “Prudential Ghana has over 2 million customers and is one of the fastest growing life insurers in the country. The PruWealth Plan will help Prudential bring the benefits of life insurance to even more Ghanaians.”